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Trading Review: Last month's surprising yet less-than-shocking trading
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Moogoorooloo joined discussion · Apr 8, 2023 16:38

Trading Review: March 2023

Silvergate, SVB, Signature, Credit Suisse. What do these banks have in common?
Answer: All of them have the letter 'S' in their names.
March 2023: Prices of bank shares 's'ank and presented a buying opportunity. With the central banks stepping in to calm the markets, I had expected the prices of the bigger banks to stabilise and hopefully recover. Being more conservative, I opted to invest in $Bank of America (BAC.US)$ (a bigger bank without the letter 'S' in its name), instead of the more popular $First Republic Bank (FRC.US)$, (I think I see the letter 's' here).
However, banks are not out of the woods yet. Recession fears still linger and if realised, the downturn may wreak havoc on a still fragile banking system.
In hindsight, I may have opened my positions too early. My due diligence had led me to believe that BAC was fairly valued and poised for a rebound. Unfortunately, the market chose to disagree with me. Naughty market.
If given a chance to remake my decisions again, would I have done things differently? Probably not, because my due diligence will still prompt me to buy $Bank of America (BAC.US)$; I am just following the strategy I have developed for myself.
Moving forward, I intend to hold the shares until it is time to sell, meaning when the share price recovers (hopefully), or when my stop-loss is activated (hopefully not). We shall see what happens - when the time comes.
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Trading Review: March 2023
Disclaimer: This is not an invitation to trade BAC. Do not make the same mistakes I made. If you need to, seek advice from your broker or financial advisor.
Invest wisely. Trade responsibly. May the Market be with you.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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Moogoorooloo
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